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Best Pay
Best Pay contract clause examples

Severance Pay. The Company will pay to Executive $378,216.08 less all applicable taxes and withholdings, as severance pay (an amount equivalent to twelve (12) months of Executive’s current base salary) (the “Severance Pay”). The Severance Pay will be paid in one lump sum within ten (10) business days following the Separation Date.

Severance. Subject to the requirements of Section 3, Executive shall receive a sum amount equal to $418,726.00 (12 months of salary), less applicable taxes and withholdings (the “Severance Payment”). The Severance Payment shall be paid to Executive in equal amounts on each of the Company’s regularly scheduled payroll dates beginning with thirty (30) days after the requirements of Section 3 have been satisfied.

Severance Payments. Executive shall be entitled to receive an amount equal to $167,500.08, which constitutes six months of Executive’s base salary at the rate in effect immediately prior to the Separation Date. Such amount shall be paid in a single cash lump sum, less applicable withholdings, on the first payroll date following the Effective Date.

Severance Payment. The Company agrees to pay Executive cash severance (the “Severance”) in an amount equal to $768,304, which is equivalent to Executive’s annual base salary as of the Execution Date, less applicable withholdings. The Severance will be paid to the Executive pursuant to the Company’s regular payroll schedule over a period of one (1) year commencing on the Company’s first practicable payroll period following the Release Effective Date (as defined in the Waiver and Release of Claims).

Severance Payments. Executive shall be entitled to receive an amount equal to $175,000, which constitutes six months of his base salary at the rate in effect immediately prior to the Separation Date. Such amount shall be paid in a single cash lump sum, less applicable withholdings, on the first payroll date following the Effective Date.

Severance. The Company shall pay to Executive an amount equal to $374,000, less applicable withholdings and deductions (such aggregate amount, the “Separation Amount”), which constitutes the sum of nine (9) months of Executive’s base salary and Executive’s target bonus. Such payment will be made on the first regularly scheduled payroll date after the Release of Claims becomes effective and irrevocable.

Severance Payments. Executive shall be entitled to receive an amount equal to Two Million, Eight Hundred Thousand Dollars ($2,800,000), which constitutes twenty-four (24) months of his base salary and target bonus at the rates in effect immediately prior to the Separation Date. Such amount shall be paid in a single cash lump sum, less applicable withholdings, on the first payroll date following the Effective Date.

Separation Pay. The Company agrees to pay Executive the lump sum of Twelve Thousand Sixteen Dollars and Sixty-Seven Cents ($12,016.67), less applicable tax withholdings (“Separation Pay”). This payment will be made on or before the sixtieth (60th) day following the Termination Date, but not later than 60 days after the date Executive has incurred a “separation from service” within the meaning of [section 409A(a)(2)(A)(i)] of the Internal Revenue Code of 1986, as amended. This payment will be subject to all legally required payroll deductions and withholdings.

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